Case Studies

Simplist Partners with Spruce to Slash Closing Times in 2021

About Simplist

Simplist is a digital mortgage marketplace committed to modernizing and simplifying the mortgage application process. Founded in 2018 by a team of experienced real estate and finance experts, Simplist works with major national firms and established regional lenders to help prospective homeowners find mortgages as unique as they are.

The Problem

Since its inception, Simplist has been laser-focused on reinventing the mortgage journey and creating a digital experience that borrowers actually want to use. One of the main pain points for homebuyers is the time it takes to close a real estate transaction, which averaged around 47 days over the last year. Simplist therefore needed to ensure it was working solely with technology partners that share its commitment to introducing efficiency at every step of the origination process. As such, Simplist was keen to systematize its title and closing process—in order to speed up time to close and increase customer satisfaction. 

The Solution

By partnering with Spruce, Simplist was able to streamline workflows with a single point of contact and make transactions predictable and repeatable. Unlike many national title providers, who offer a distributed model with local offices and different contacts by region, Spruce provides a truly national, centralized solution with a dedicated team of title experts. In addition, by utilizing Spruce’s platform, Simplist has been able to cut communication touchpoints by 60% and therefore reduce time to close. Spruce enables this by: 

  • Automating the title quote process
  • Using the Spruce Client Dashboard as the key communication tool
  • Structuring a Simplist-specific notification process, so all key stakeholders are updated throughout the lifecycle of a deal

The Results

Partnering with Spruce has helped Simplist to streamline the title and closing process, significantly enhancing the customer experience. Spruce’s tech-enabled nationwide services, combined with centralized operations, have helped Simplist to deliver unprecedented results for borrowers. In fact, throughout the COVID-19 pandemic, Simplist has been able to close mortgage transactions in half the time of most traditional lenders—and, in some instances, in as little as 10 days.

“At Simplist, we’re committed to ensuring that the mortgage procurement process is delightful from start to finish. Our focus on technological ingenuity, efficiency and customer experience requires the right partners—Spruce’s tech-forward solution has helped to ensure that the title and closing process is truly seamless. 

"Working with the Spruce team represents a true partnership. Their willingness to iron out any current inefficiencies in our process, coupled with their consultative approach to helping plan for our future expansion, is unparalleled.“

Anthony Sherman, CEO of Simplist

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